Maplebear (NASDAQ:CART) Coverage Initiated at Loop Capital

Stock analysts at Loop Capital initiated coverage on shares of Maplebear (NASDAQ:CART) in a report issued on Friday, Briefing.com reports. The firm set a “buy” rating and a $46.00 price target on the stock. Loop Capital’s price objective would indicate a potential upside of 26.37% from the stock’s previous close.

CART has been the topic of a number of other reports. Moffett Nathanson reissued a “neutral” rating and issued a $37.00 price target (up from $36.00) on shares of Maplebear in a research note on Thursday, April 11th. Piper Sandler upped their target price on shares of Maplebear from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Macquarie initiated coverage on shares of Maplebear in a research note on Monday, March 25th. They set an “outperform” rating and a $42.00 target price on the stock. Morgan Stanley initiated coverage on shares of Maplebear in a research note on Tuesday, January 30th. They set an “equal weight” rating and a $28.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on shares of Maplebear in a research note on Tuesday, January 9th. They set a “market perform” rating and a $26.00 target price on the stock. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Maplebear has a consensus rating of “Moderate Buy” and an average price target of $38.16.

Maplebear Trading Up 0.1 %

NASDAQ:CART opened at $36.40 on Friday. The company’s 50-day moving average is $34.25 and its two-hundred day moving average is $28.16. Maplebear has a 1-year low of $22.13 and a 1-year high of $42.95.

Maplebear (NASDAQ:CART) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.52. The firm had revenue of $803.00 million during the quarter, compared to analyst estimates of $804.62 million. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts predict that Maplebear will post 0.53 EPS for the current year.

Insider Buying and Selling

In related news, CAO Alan Ramsay sold 12,113 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.33, for a total transaction of $415,839.29. Following the completion of the sale, the chief accounting officer now owns 114,205 shares in the company, valued at approximately $3,920,657.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Us (Ttgp) Ltd. Sc acquired 1,036,683 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $27.90 per share, for a total transaction of $28,923,455.70. Following the transaction, the insider now owns 1,036,683 shares in the company, valued at $28,923,455.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alan Ramsay sold 12,113 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $34.33, for a total transaction of $415,839.29. Following the transaction, the chief accounting officer now owns 114,205 shares of the company’s stock, valued at approximately $3,920,657.65. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,157,745 shares of company stock worth $61,771,955 and sold 998,592 shares worth $28,401,288. 4.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maplebear

A number of large investors have recently made changes to their positions in CART. Sivia Capital Partners LLC purchased a new position in Maplebear during the 1st quarter valued at about $369,000. Udine Wealth Management Inc. acquired a new stake in shares of Maplebear during the 1st quarter worth about $2,109,000. Ironwood Financial llc acquired a new stake in shares of Maplebear during the 1st quarter worth about $337,000. Hodges Capital Management Inc. acquired a new stake in shares of Maplebear during the 1st quarter worth about $6,211,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Maplebear during the 1st quarter worth about $263,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.